Online Sales Explode in the Past Week

online shoppingFor as long as we’ve known, brick and mortar sales have been the big draw of Black Friday, the shopping experience and the tradition being the impetus.

But shoppers’ own experiences, combined with how the media portrays long lines, a frenzied atmosphere and general chaos, motivated many to move to the alternative. The atmosphere of a cup of coffee, the quiet of home and an iPad, computer or phone was the shoppers’ choice this year.

The numbers bear this out.

As of 10 a.m. Monday, Americans had spent nearly $14 billion online since Thanksgiving Day, when many companies started their Black Friday sales. More than half of those purchases came from mobile devices, Adobe Analyics reported.

Cyber Monday of 2017 was the biggest single day of online shopping in history. As of 10 a.m., retailers had racked up $840 million in online sales, a 17 percent increase from last year.

Effects of this Spike to be Felt in Months to Come

product reviews by monthThis continuing consumer shift to online shopping will also significantly increase buyer feedback to companies. Channel Signal has done groundbreaking work in this area. On average, a brand’s product reviews increase 43.6% during the period from October to January*.

This is critical information for two reasons:

  • An increase in product review volume for a brand means it reaches many more prospects. This fuels sales during the critical 1st quarter.
  • The buyer feedback on product performance is critical for product development, marketing and sales.

The major increase in online shopping means an opportunity for brands to become closer to buyers, and, through them, closer to their target markets.

*Based on Channel Signal customer averages for 2016-2017

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